California

Oceanside, Calif. — Sedaka Investment Partners has acquired a 7,424-square-foot retail property located in Oceanside. The property was fully leased to four tenants at the time of sale. Sedaka purchased the property from an undisclosed seller for $2.7 million. 

Vernon, Calif. — DP Vernon Retail has sold Vernon Shopping Center, a retail center located in Vernon, roughly 4 miles outside downtown Los Angeles. Built in 2017, the center totals 14,000 square feet and was 77 percent occupied at the time of sale. Current tenants include Jersey Mike’s Subs and Café Dulce. Wimatex Inc. acquired the property for an undisclosed price in a 1031 exchange. Chris Maling and David Maling of Avison Young represented DP in the transaction.

Stockton, Calif. — Brixton Capital has acquired Pacific Town Center, a 143,217-square-foot shopping center located in Stockton. Tenants at the property, which was 42 percent leased at the time of sale, include Smart & Final, Panda Express and Subway. The buyer plans to re-tenant spaces formerly occupied by Toys “R” Us and T.J. Maxx. Hanley Investment Group represented the undisclosed seller in the transaction. 

Indio, Calif. — Progressive Real Estate Partners has brokered the $4.5 million sale of a single-tenant property located in Indio. DaVita Dialysis occupies the building. Greg Bedell of Progressive represented the seller, a Los Angeles-based private investor, in the transaction. Abel Mehrabi and Karl Markarian of JohnHart Real Estate represented the buyer.  

San Diego — CBRE has negotiated the sale of an 8,915-square-foot freestanding, single-tenant property located in San Diego. Built in 1987, the building is situated within Rancho Bernardo Town Center. A private buyer acquired the property from Kim Family Trust for $3.9 million. The new owners plan to open a restaurant, Sapphire Indian, in the building. Reg Kobzi, Michael Peterson and Joel Wilson of CBRE represented the seller in the transaction. AGAS Real Estate represented the buyer.